How to set up a proxy server in Edge for Windows 10

How do I use a proxy with Microsoft Edge?
In a time of restrictions and eroding privacy, many people are using a proxy while they browse the internet. A proxy is essentially a secondary hub that your internet traffic is pushed through. Instead of you typing an address into your browser and having the page immediately come back, your internet request will be first sent to the proxy. The proxy then sends it out using an IP that's different from yours. This process can be used to avoid geo-restrictions and keep a bit more anonymity while you browse the internet. Keep in mind that this is not a VPN, and it does not encrypt your web traffic.